Disappointment for landlords as Treasury responds to RLA

Financial Secretary to the Treasury, David Gauke MP, has recently responded to the RLA calls for Government to reconsider the changes in taxation for private landlords set to come into force in April 2017. The Treasury remain steadfast in their proposals despite growing pressure across the sector…

Financial Secretary to the Treasury, David Gauke MP, has recently responded to the RLA calls for Government to reconsider the changes in taxation for private landlords set to come into force in April 2017. The Treasury remain steadfast in their proposals despite growing pressure across the sector.

The document was sent to Chancellor of the Exchequer George Osborne and MPs that have an interest in housing. The document stressed that landlords relied upon tax relief on mortgage payments to be able to conduct their business.

“That means ensuring that landlords with the largest incomes no longer receive the most generous tax treatment. By restricting finance costs relief available to the basic rate of income tax all finance costs incurred by individual landlords will be treated by the same tax system”.

The RLA is obviously disappointed with the reply and stance of Government and will continue to lobby to ensure landlord voices are heard. In the meantime consider writing your local MP to emphasise the importance of these proposals.

About the author

RLA

The Residential Landlords Association (RLA) represents the interests of landlords in the private rented sector (PRS) across England and Wales. With over 23,000 subscribing members, and an additional 16,000 registered guests who engage regularly with the association, we are the leading voice of private landlords. Combined, they manage almost half a million properties.

Yes I believe that is exactly what he wants to do and those who are professional landlords with mortgages, where property is their sole source of income, will be hit hardest.

Many people who have worked hard and saved hard to make property part of their pension pot will be badly affected.

The only option will be sell to up all or part of any portfolio or increase rents – and all this by a conservative government – in my opinion maybe Corbyn is not alone in seemingly ridiculous policies.

About Author

RLA

The Residential Landlords Association (RLA) represents the interests of landlords in the private rented sector (PRS) across England and Wales. With over 23,000 subscribing members, and an additional 16,000 registered guests who engage regularly with the association, we are the leading voice of private landlords. Combined, they manage almost half a million properties.